Sunoco LP (NYSE:SUN) Receives $66.17 Average Target Price from Analysts

Sunoco LP (NYSE:SUN) has been given an average rating of “Moderate Buy” by the eight ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $66.8333.

A number of research firms have recently issued reports on SUN. Raymond James Financial upgraded shares of Sunoco from an “outperform” rating to a “strong-buy” rating and set a $70.00 target price for the company in a research note on Monday, January 5th. Zacks Research cut shares of Sunoco from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 3rd. Wells Fargo & Company raised their price objective on shares of Sunoco from $67.00 to $71.00 and gave the stock an “overweight” rating in a research report on Friday. Weiss Ratings cut Sunoco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, February 23rd. Finally, Wall Street Zen downgraded Sunoco from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Compass Wealth Management LLC bought a new stake in shares of Sunoco during the third quarter worth $644,000. Lee Financial Co lifted its stake in shares of Sunoco by 573.1% in the 3rd quarter. Lee Financial Co now owns 25,705 shares of the oil and gas company’s stock valued at $1,286,000 after acquiring an additional 21,886 shares during the last quarter. Chickasaw Capital Management LLC boosted its holdings in shares of Sunoco by 58.2% during the 3rd quarter. Chickasaw Capital Management LLC now owns 228,429 shares of the oil and gas company’s stock valued at $11,424,000 after acquiring an additional 84,000 shares in the last quarter. Truist Financial Corp acquired a new stake in shares of Sunoco during the 3rd quarter valued at $1,161,000. Finally, Duff & Phelps Investment Management Co. grew its position in Sunoco by 470.0% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 113,263 shares of the oil and gas company’s stock worth $6,070,000 after acquiring an additional 93,394 shares during the last quarter. Institutional investors own 24.29% of the company’s stock.

Sunoco Trading Up 2.5%

Shares of NYSE:SUN opened at $64.44 on Friday. Sunoco has a 52-week low of $47.98 and a 52-week high of $65.24. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.78 and a current ratio of 1.38. The company has a market capitalization of $13.20 billion, a P/E ratio of 28.39 and a beta of 0.49. The company has a 50-day simple moving average of $59.54 and a 200 day simple moving average of $54.77.

Sunoco (NYSE:SUN) last announced its quarterly earnings results on Tuesday, February 17th. The oil and gas company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.64 by ($1.55). The business had revenue of $8.60 billion for the quarter, compared to analyst estimates of $9.65 billion. Sunoco had a return on equity of 10.76% and a net margin of 2.01%.Sunoco’s quarterly revenue was up 63.2% compared to the same quarter last year. During the same period last year, the firm earned $0.75 EPS. Sell-side analysts forecast that Sunoco will post 10.65 earnings per share for the current year.

Sunoco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Friday, February 6th were paid a $0.9317 dividend. This is a boost from Sunoco’s previous quarterly dividend of $0.92. The ex-dividend date was Friday, February 6th. This represents a $3.73 annualized dividend and a yield of 5.8%. Sunoco’s dividend payout ratio is presently 164.32%.

About Sunoco

Sunoco LP (NYSE: SUN) is an independent master limited partnership that specializes in the distribution and marketing of transportation fuels and related products. The company operates through two primary segments: wholesale fuel distribution and retail marketing. In wholesale distribution, Sunoco supplies branded fuels to distributors, commercial customers and resellers across the United States. Its retail marketing arm operates a network of company?owned and franchised Sunoco branded service stations and convenience stores, providing gasoline, diesel, ethanol blends and lubricants to consumers.

Sunoco’s product portfolio extends beyond traditional fuels to include biofuels, specialty chemicals and on?road diesel treated to meet ultra?low sulfur requirements.